By any measure, retailers are overwhelming small businesses. More than 95 percent of all retailers have only one store. Almost 90 percent have sales less than $2.5 million (USD), and more than 98 percent have fewer than 100 employees. To compete, small businesses need to be innovative, and understand both personalization and value, and how to execute best practices to build success.
financial objectives of firms
areas: inventory management, advertising, financial reporting, customer knowledge and communication, buying, pricing and customer service. Mike Baron, of Baron's Major Brands, described how an Internet-based phone system links their stores, reduces cost and creates a better customer experience. (See Mike's Method). Bobby Ukrop (Bobby's Big Idea) is using loyalty cards in new ways to target and communicate not just with customers but employee associates as well. Regrettably, many experts also cited the